Mr. Mark Ferguson reports

DUNBAR METALS COMPLETES DEBENTURE FINANCING

Dunbar Metals Corp. has closed its non-brokered private placement of convertible debentures for gross proceeds of $500,000.

All debentures issued in connection with the offering mature on Dec. 6, 2027, and bear interest at a rate of 12 per cent per annum payable on maturity. Each debenture is convertible into units of the company, at the option of the holder, at a rate of one conversion unit for every 15 cents of outstanding indebtedness. Each conversion unit consists of one common share of the company and one common share purchase warrant exercisable at a price of 15 cents until Dec. 6, 2027.

The proceeds of the offering will be utilized by the company for general working capital purposes.

No finders' fees were paid in connection with completion of the offering. All securities issued in connection with the offering are subject to a statutory hold period expiring on April 7, 2025, in accordance with applicable securities laws.

As a condition to participation in the offering by an investor, the company arranged for the cancellation of an aggregate of 19.05 million common share purchase warrants currently exercisable at a price of 10 cents. The 19.05 million warrants cancelled as part of the offering represent all remaining common share purchase warrants of the company.

About Dunbar Metals Corp.

Dunbar is engaged in the acquisition and exploration of mineral properties in Canada. The company currently holds a 100-per-cent interest in mineral claims totalling approximately 7,000 hectares comprising the Gorilla Lake property, located in Northern Saskatchewan, Canada, subject to a royalty obligation. The phase 1 exploration program at the property consists of geological mapping, prospecting and geochemical sampling based on the anomalies identified by the company's Heli-TEM survey and integration with other available data sets. The company's secondary objective is to locate and develop other economic precious metal and base metal properties of merit.

We seek Safe Harbor.